Looks to me (in a convoluted disclosure to the NZX), that Harbour Asset Management have been the real sellers.
Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.”
Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine
Who knows mate but the timing of their disclosure lines up with my theory that some fund managers have been selling to enable them to participate in the Arvida placement and subsequent rights issue so I think one can legitimately makes the case that joining the dots seems like a reasonable conclusion.
The Arvida thing, the second part of which closed today - A third of a billion dollars is a big ask as a capital raise on the NZX. I am not surprised its had a material impact on the share price of other companies in the retirement sector.
Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.”
Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine
Harbour have SUM as one of their bigger holdings …..in the top 5 in their Australasian Equity Fund
A favorite with Fisher Funds as well. Its quite plausible to me that the far easier ability to comprehend SUM's financial statements could be a factor at work here.
Last edited by Beagle; 08-11-2021 at 07:40 PM.
Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.”
Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine
A favorite with Fisher Funds as well. Its quite plausible to me that the far easier ability to comprehend SUM's financial statements could be a factor at work here.
I agree. Maybe we need to en masse email Investor relations asking for more readable financials or more commentary in laymans terms
here`s a weird question Winner.
OCA`s 1HY report comes out Monday morning 29th. It has always been Thursday or Friday.
So with your corporate life time of acquired knowledge (coupled with your learned cynicism ) can we read anything into this unusual day for the announcement. I also note its out a week later than usual.
Perhaps another purchase? or just a result so good they want to give the market a full week of buying opportunity?
(a simple yes to either question will be just fine)
Originally Posted by Chinesekiwi
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